HC Wainwright Lowers Adaptimmune Therapeutics (NASDAQ:ADAP) Price Target to $3.00

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price objective trimmed by HC Wainwright from $3.50 to $3.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

Other research analysts also recently issued reports about the stock. Scotiabank decreased their price target on shares of Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating on the stock in a research note on Friday, March 21st. Guggenheim lowered their price target on shares of Adaptimmune Therapeutics from $3.00 to $1.75 and set a “buy” rating for the company in a research note on Wednesday, March 26th. StockNews.com assumed coverage on Adaptimmune Therapeutics in a research note on Saturday, March 29th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company lowered their target price on Adaptimmune Therapeutics from $2.00 to $1.50 and set an “equal weight” rating for the company in a research note on Friday, March 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Adaptimmune Therapeutics has an average rating of “Moderate Buy” and an average target price of $1.83.

Adaptimmune Therapeutics Stock Up 6.2 %

ADAP stock opened at $0.32 on Tuesday. The company’s 50 day moving average is $0.48 and its 200 day moving average is $0.65. The stock has a market cap of $83.32 million, a price-to-earnings ratio of -1.47 and a beta of 2.85. The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.62. Adaptimmune Therapeutics has a 1-year low of $0.20 and a 1-year high of $1.48.

Adaptimmune Therapeutics (NASDAQ:ADAP) last announced its earnings results on Monday, March 24th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.09). Adaptimmune Therapeutics had a negative return on equity of 74.15% and a negative net margin of 25.43%. The company had revenue of $3.22 million during the quarter, compared to analysts’ expectations of $16.56 million. Sell-side analysts predict that Adaptimmune Therapeutics will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Adaptimmune Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP boosted its holdings in shares of Adaptimmune Therapeutics by 33.5% during the 4th quarter. Two Sigma Investments LP now owns 76,347 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 19,146 shares in the last quarter. Virtu Financial LLC lifted its holdings in shares of Adaptimmune Therapeutics by 21.5% during the fourth quarter. Virtu Financial LLC now owns 122,696 shares of the biotechnology company’s stock valued at $66,000 after purchasing an additional 21,688 shares during the last quarter. Invesco Ltd. grew its stake in shares of Adaptimmune Therapeutics by 82.0% in the 4th quarter. Invesco Ltd. now owns 63,335 shares of the biotechnology company’s stock worth $34,000 after buying an additional 28,526 shares during the last quarter. FMR LLC increased its position in Adaptimmune Therapeutics by 3.0% during the 3rd quarter. FMR LLC now owns 1,740,900 shares of the biotechnology company’s stock valued at $1,655,000 after buying an additional 50,419 shares in the last quarter. Finally, Rock Springs Capital Management LP boosted its holdings in Adaptimmune Therapeutics by 2.4% in the fourth quarter. Rock Springs Capital Management LP now owns 2,483,468 shares of the biotechnology company’s stock worth $1,338,000 after acquiring an additional 58,000 shares in the last quarter. Hedge funds and other institutional investors own 31.37% of the company’s stock.

About Adaptimmune Therapeutics

Adaptimmune Therapeutics plc, a clinical-stage biopharmaceutical company, provides novel cell therapies primarily to cancer patients in the United States and the United Kingdom. It develops SPEARHEAD-1 that is in phase II clinical trials with ADP-A2M4 for synovial sarcoma; SURPASS-3 that is in phase II clinical trial with ADP-A2M4CD8 for people with platinum resistant ovarian cancer; and SURPASS that is in phase I clinical trials in patients with head and neck, and urothelial cancers.